How do you handle change in a fleet business?

There’s a famous saying: “But in this world nothing can be said to be certain, except death and taxes” attributed to one of the founding fathers of the United States of America, Benjamin Franklin. He wrote in a letter in 1789 about the Constitution stating that: having been established, it had “an appearance that promised permanency”. His cautionary prediction was, of course, that change is inevitable, which remains true today.

Particularly in light of recent political events, namely Brexit and Trump’s shock election, it seems everyone in business is anticipating change of some sort. Whether the outcome will be good or bad partly rests with business leaders and managers themselves.

Change and transformation has become a permanent feature of the business landscape in recent decades, with new markets opening for fleet and leasing companies alongside new technologies rendering once powerful business models ineffectual. All of this demands new skills that are not necessarily easy to acquire.

In terms of the automotive fleet and leasing industry, what are the keys to sound change management? The following are just some:

  • Becoming leaner and more flexible as an organization.
  • Managing the cultural alongside the operational aspects of change.
  • Embracing change at every level of the organization.
  • The right technology that is both flexible and robust.
  • A change management team not afraid to try new approaches.

These are just a few of the elements required to navigate a path to positive change management.

Our operations director, Owen Goschen, a 15+ years veteran of the vehicle fleet and leasing management sector, has written and published a white paper in our Fleet Intelligence series: How to Handle Change. It was originally published by Asset Finance International in their quarterly Pricing Review (which they publish in association with us).

If this grabs you and you’d like to go into more depth about change management in fleet finance and leasing management, you can download it for FREE.

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